Will need to raise US interest rates 'above 4%' in 2023, says Fed chief

President of the Cleveland Federal Reserve, Loretta Mester said on Wednesday, 7, that it will be necessary to raise nominal interest rates in the United States "above 4%" next year and "keep it there. Mester, who has the right to vote on monetary policy decisions, stressed in her speech that inflation is "the main challenge" for the U.S. economy right now, as it is at an "…